A high net-worth divorce can take time and at times seem difficult. It is typically not an overnight process, due to the high assets involved. Whether a high net-worth divorce takes place in Massachusetts or elsewhere, all individuals involved may benefit by preparing themselves in a way that ensures all matters are settled fairly.
Actor Terrence Howard was recently in the midst of divorce proceedings. Throughout the marriage, allegations were made that led to the couple’s divorce. Based on allegations that she endured physical abuse and was subjected to violent threats, the Howard’s ex-wife was granted a protective order against him prior to the divorce proceedings. Howard has since denied these allegations.
The divorce proceedings between Howard and his ex-wife have finally come to a close and have been settled by a court of law. Howard received the majority of the marital assets. His ex-wife was allowed to keep her bike, awarded three years of spousal support in the amount of $5,800 monthly but was ordered to return a Range Rover to her ex-husband. Now that the divorce has been settled, hopefully both parties can finally move on.
This high-net worth divorce appears to have been settled favorably for the actor. At the outset of any marital dissolution, the parties have the option of litigating or seeking alternative dispute resolution options like mediation or collaboration. Like some ongoing disputes in Massachusetts, the Howard divorce took the better part of two years to reach a final settlement. Others, however, are able to keep lines of communication open and work together to negotiate an agreement that is in the best interests of both parties.
Source: newsone.com, “Terrence Howard Divorce Racist Wife: Ex-Wife Only Gets A Bicycle, Spousal Support,” Ruth Manuel-Logan, May 10, 2013